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Share & Deposit general T&Cs |
Share and Deposit Account General Terms and Conditions (effective from 01 February 2008). Head Office: 15 Queen Square, Bath, BA1 2HN Bath Investment and Building Society is authorised and regulated by the Financial Services Authority. Our FSA Registration Number is 206026. 1. About this Booklet 1.1. This booklet explains the general terms and conditions that apply to your account. Some accounts also have their own special conditions and these are documented in their specific terms and conditions leaflet that you will receive when you open your account. You should read these general terms and conditions in conjunction with the special conditions of your account. If there is a conflict between these general terms and conditions and the special conditions of your account, the special conditions will apply. Any reference to these general terms and conditions, or the special conditions of your account also includes any changes made to them. 1.2. Words in italics have a special meaning. These are explained in the glossary at the end of the booklet. 2. The Banking Code 2.1. The Society subscribes to the Banking Code, a voluntary Code that sets the standards of good banking practice. We believe that our service to you is enhanced by our compliance with the Code. When you open an account with us you will receive a leaflet that summarises the key commitments and responsibilities of banks and building societies, as laid out in the Code. If you would like to know more about the Code copies are available at any of our branches or agencies, or from the Banking Code Standards Board website www.bankingcode.org.uk 2.2. The Society is committed to treating customers fairly. You will receive a copy of the Fairness Code when you open your account and we welcome feedback from all customers. 3. Before You Open Your Account 3.1. Before you open your account make sure you look at our schedule of interest rates and the special conditions of any account you are interested in. Copies of these documents are available at our branches and agencies and also from our helpline. 3.2. Why not discuss your requirements with one of our Customer Advisers? They can tell you about our full range of accounts and the specific benefits each one offers. It is important to us that you have the right account for your needs. 4. Money Laundering 4.1. All banks, building societies and other businesses that provide financial services are required by law to put in place procedures to prevent money laundering. Money laundering is the process by which criminals hide and disguise the money they make from their crimes. Criminals involved in money laundering often use false identities and addresses in order to get their illegal funds into the banking system, making it harder to trace and confiscate. At the Society, we are determined to prevent criminals using us to launder the proceeds of their crime. 4.2. This is why, before you can open an account with us, we need to prove your identity and your address. We will usually use an electronic identification search to reduce any inconvenience as far as possible. If paper identification is required, we can provide a list of documents that are acceptable (i.e driving license). It is not our intention to exclude people from opening accounts with us, so if you have problems providing documents from our list, speak to one of our Customer Advisors. The particular identification requirements will differ depending on your circumstances. 5. Opening Your Account 5.1. There will be a minimum amount required to open your account, and in some cases there may also be a maximum amount. These amounts will depend on the type of account you are opening, for details speak to a Customer Adviser, or refer to the special conditions of the account you have chosen. 5.2. You will be required to complete an application form in full, to open your account. When we open your account we will issue your passbook. You will need to sign your passbook and also provide another sample signature for security reasons. We will retain copies of any identification documents provided and the originals will be returned to you. 6. Running Your Account 6.1. Share accounts are only available to private individuals, unlimited partnerships, sole traders, clubs, societies and unincorporated associations. 6.2. If the balance in your account falls below £100.00 we may close the account, (however there are exceptions for some types of account). Please refer to the special conditions of your account for more details about minimum balance requirements. 6.3. We will only accept instructions regarding your account from: you; anyone who has a legal right to give us instructions (for example, your trustee if you are made bankrupt); or a person you have authorised in writing (provided your written authority is in a form acceptable to us). 6.4. We do not have to recognise that anyone, other than you, has any right to or interest in the money in your account. 6.5. You can sometimes keep your account with us if you move abroad, although it depends on where you move. 7. Passbooks 7.1. All our accounts are passbook operated, except where the special conditions for your account provide for operation without a passbook. 7.2. We will supply a passbook (usually by post) when you open your account. The passbook belongs to us and you must produce it to us on request. 7.3. We may send you a replacement or new passbook at our discretion. 7.4. If your passbook is damaged, worn-out, lost, stolen or destroyed we may issue you with a new one. We will request you return your old passbook, unless it has been stolen or lost. We may charge you for the new passbook unless the old one has been stolen and you are able to produce a crime report number. We may ask you to pay our reasonable expenses incurred in trying to find your lost or stolen passbook. We will need to see personal and address identification before we open a new account for you. 7.5. It is important that you take care of your passbook. This will help prevent fraud and protect your accounts. We strongly advise that you do not allow anyone else to use your passbook, unless you are unable to manage your affairs (see the section below on Control of Your Financial Affairs) or they are lawfully entitled or properly appointed by you to operate your account (see the section above on Running Your Account). You should keep your passbook safe and do all you can to prevent it being lost, stolen or being used by an unauthorised person. You should not disclose the account number printed on your passbook to anyone other than our Customer Advisers. You may be asked by a Customer Adviser to provide your account number to make a withdrawal, deposit, or when requesting the account balance. You may also need to quote your account number when you have a query about your account or our service. You will be required to provide us with your account number if you are reporting the loss, theft or unauthorised use of your passbook. 7.6. You must return your passbook to us if we ask you to. We may do this if we believe that your passbook is being used by someone else, you are not keeping to these general terms and conditions or the special conditions that apply to your account, or we need to replace your passbook with a new one for technical, security or design reasons. We may also ask you to return your passbook if we believe you can no longer look after your finances, your account is being used for illegal purposes, there is a disagreement about who owns the money in your account, including between joint account holders, or we wish to conduct an audit. 7.7. If we ask for the return of your passbook you must not use it again. However, if the passbook is used we are entitled to treat the transaction as valid, for example if the passbook is presented and a withdrawal made, we will deduct the amount of the withdrawal from the funds in your account. 7.8. If we think that your passbook is being used by someone else, or that you are not keeping to these general terms and conditions, or the special conditions that apply to your account, we may stop you or someone else from using your passbook without giving you notice, and refuse to give you a new or replacement passbook. 7.9. If your passbook is lost, stolen or is being used by an unauthorised person you must tell us immediately. You must give us any help we believe necessary to locate your passbook or any person who has used it without proper authority. It may be necessary for us to provide information to the police or a prosecuting authority in order to help their investigation or prosecution, protect you and/or the Society from any loss, and/or retrieve your passbook or any missing funds. 7.10. You will not be responsible for the use of the passbook once you have reported its loss, theft or unauthorised use to us, unless you have been fraudulent or negligent in connection with the loss, theft or in allowing someone else to use your passbook. 7.11. You must not use your passbook if it has been reported lost, stolen or likely to be used by an unauthorised person. If you find the passbook after you have made a report you must hand it in to us immediately. 8. Depositing Funds into Your Account 8.1. We will accept cash, cheque and electronic transfers of funds. 8.2. For security reasons we will only accept cheques payable to the account holder on our records (i.e. Bath Building Society – Mr B Brown). 8.3. There may be a minimum balance that is required before you can use your account. If this applies to your account it will be detailed in the special conditions of your account. If you make a cheque deposit you will have to wait for the funds to clear before you can make a withdrawal of these funds. Further information is contained in the section on cheques below. 8.4. We may limit the amount you, or someone else, can pay into your account if we think this is necessary to run our business lawfully and in a way approved by our regulator, or to take account of market conditions. 9. Withdrawing Funds from Your Account 9.1. You can take money out of your account by making a withdrawal. 9.2. If your account is passbook operated we will refuse to carry out a withdrawal if you do not produce your passbook. 9.3. From time to time we undertake identity checks to ensure that our account security systems are effective. This means when you are making a withdrawal or reactivating a dormant account, we may ask you to produce some form of identification. If you are unable to produce evidence of your identity we may refuse to proceed with the transaction. 9.4. We may limit the amount that you can take out of your account in any month if we think this is necessary to run our business lawfully and in a way that is approved by our regulator. If your account is superseded we will not use this power to prevent you from closing your account. For further details about superseded accounts refer to the section below. 9.5. You cannot withdraw funds, which have been deposited by cheque until the cheque has cleared. Further information is contained in the section on cheques below. 9.6. You must not make a withdrawal, or allow a withdrawal to be made, if this would make your account overdrawn, or if your account is already overdrawn. Further information is contained in the section on overdrawn accounts below. 9.7. We can refuse to carry out a withdrawal if we reasonably believe that: 10. Cash 10.1. If you pay cash into your account at any of our branches you will be able to withdraw the funds on the same day. For security reasons, we may not accept large cash deposits. The maximum cash withdrawal on any day by any customer is £500. 10.2. Do not post us cash, as this is not secure. 11. Cheques paid to us 11.1. A cheque can become out of date. This happens if more than six months has passed from the date of the cheque, or if the cheque itself specifies an expiry date. If you have an out of date cheque you must ask the person who issued the cheque to either, write out a new cheque, or to re-date the cheque and place their initials next to the change. If you give us an out of date cheque we may return it to you. 11.2. If you pay a cheque into your account at one of our branches or agencies or send it by post you cannot withdraw the proceeds of the cheque until the funds have cleared. Funds take six bank working days to clear. This means you cannot have the funds until six bank working days after you deposit the cheque. For example, if we receive your cheque on Tuesday, you will be able to withdraw the funds on Wednesday of the following week (providing there are no bank holidays). The normal bank working cycle is 3 bank working days. 11.3. If we get your cheque on a day that is not a bank working day we will deal with it as though we had received it on the next bank working day. For example, if we receive your cheque on a Saturday, we will deal with it as though we received it on the next Monday. You will be able to withdraw the funds on Tuesday of the following week (providing there are no bank holidays). 11.4. If you pay a cheque into your account and we allow you to withdraw some or all of the proceeds of the cheque this does not mean that the cheque has been cleared. If the cheque is subsequently returned to us unpaid we may take the amount of the cheque and any interest we have paid on it out of your account. 12. Cheques out 12.1. You cannot stop a building society cheque so you must carefully consider the risk before you instruct us to make a cheque payable to a third party. 12.2. If a cheque is lost or stolen you must tell us immediately. You must give us any help we believe necessary to locate the cheque or any person involved in the misuse of the cheque. It may be necessary for us to provide information to the police or a prosecuting authority in order to help their investigation, protect you and the Society from any loss, and/or retrieve the Society’s cheque and any missing funds. 13. Direct Debits 13.1. We are not able to set up direct debits out of your account. 13.2. A direct debit is a method of authorising a third party to instruct a financial institution to pay them a certain amount of money out of an account, at a particular regularity. The third party receiving the money normally supplies direct debit forms. The Direct Debit Guarantee covers all direct debits. All financial institutions that take part in the direct debit scheme offer this guarantee. If either party makes an error, you are guaranteed a full and immediate refund of the amount paid. You can cancel a direct debit at any time. You should also send a copy of the letter to the third party receiving the money. 14. Standing Orders 14.1. We are not able to set up standing orders out of your account, however we can accept monies into your account via standing order. You can ask one of our Customer Advisors about how to set up a standing order into your savings account with us. 14.2. A standing order is an instruction from you to pay a fixed amount from one of your accounts each month and credit it to another account. The receiver of the funds has no authority to change the amount or cancel the standing order. 15. Telegraphic Transfers 15.1. A telegraphic transfer is an instantaneous transfer of funds electronically. You can instruct us to send funds by telegraphic transfer to a UK Bank, but there is a fee payable. For example you may wish to use a telegraphic transfer to pay a house deposit. We cannot telegraphic transfer money abroad. If you would like more information speak to a Customer Adviser or contact our helpline. 15.2. Due to the instantaneous nature of telegraphic transfers it is unlikely that we will be able to stop a payment once requested. 16. Credit Reference Agencies 16.1. We will not pass information about your account to Credit Reference Agencies if you are an investment customer only. With your consent we may carry out an identification check through such an agency. If you also have a mortgage account with us you should speak to your Mortgage Consultant about how we use Credit Reference Agencies. 17. Joint Accounts 17.1. Most of our accounts allow two people to be joint account holders or up to four people to be signatories. You should refer to the special conditions of your account to find out whether it can be used as a joint account. 17.2. When you open a joint account you must advise us how many signatories are required to operate the account. If only one signature is required it will be possible for one signatory to withdraw the entire funds without the knowledge of the other holders/signatories. For this reason we recommend at least two signatures be required to authorise any transaction, however we accept that this is not always practical. 17.3. Only the first joint account holder will be a member of the Society and have voting rights. Therefore it is important to consider carefully the order in which you place the names of the joint account holders. 17.4. It is our practice to send written notices, statements and other information to the first named joint account holder only, unless otherwise requested. 17.5. If one of the joint account holders dies we will accept instructions from the other account holder, who may close the account without loss of interest for the early closure. 17.6. As a responsible organisation, if the Society is put on notice that the relationship between joint account holders has broken down we will place a stop on the account. This means we will not allow anyone to take money out of your account, pay money into it, or carry out any other transactions until we are satisfied that all parties agree to the transaction. Normally this will mean we will require all signatories to the account to sign any future instructions related to the account. The Society may be put on notice by, either party to the account telling or indicating to us that their relationship is in difficulty, a letter from either party’s solicitor advising that the relationship is in difficulty, or a court order. 17.7. The conditions of the account apply to all the joint account holders. Joint and several liability attaches to all joint accounts. This means that if the account becomes overdrawn the Society could claim the funds back in full from any or all of the joint account holders. 18. Deposit Accounts 18.1. You can only have a deposit account if you are a trust, charity, company or limited liability partnership. 18.2. All signatories must provide their personal details on the application form and be listed on the account as a customer. 18.3. Deposit accounts do not entitle you to membership rights of the Society. 19. Overdrawn Accounts 19.1. We do not offer overdraft facilities. If your account becomes overdrawn you must immediately repay the amount that you are overdrawn, in addition to any charges we impose. 19.2. You must not make, or allow a withdrawal if it will make your account overdrawn or your account is already overdrawn. 19.3. If we add charges to your account, make a withdrawal, or any other transaction with the result that your account becomes overdrawn, this will not mean we have agreed an overdraft on your account. 20. Taking Funds From Your Account 20.1. We will take funds out of your account to cover withdrawals, cheques and other payments that you deposit but are subsequently returned unpaid, any charge that you owe us, and any loss or expense we suffer in connection with your account. There is an exception relating to lost, stolen and unauthorised use of your passbook outlined in the passbook section above. 20.2. We may take funds out of your account for any of the reason above even if this will result in your account becoming overdrawn. 20.3. We can retain and set off all or any of the funds in an account against any amount you were due to pay to us but have not paid under a mortgage, loan, guarantee or otherwise. We will give you notice in writing prior to doing this. We will not pay interest on any funds used in this way. 20.4. If charges and/or debit interest accumulate to your account we will give you fourteen days notice of the amount before it is deducted from your account. The fourteen days notice will start from the day we post the notification to you. Currently, we do not make charges for the normal operation of your account. 21.1. If your account is in credit we will pay you interest on that amount at the rate, or rates, we have set for your account. We may pay different rates to different categories of customer, for example corporate customers. 21.2. There may be a minimum balance on which we will pay interest applicable to your account. Refer to the special conditions of your account for details or call our helpline. If we change, or introduce, a minimum balance for interest purposes we will give you thirty days written notice of the change, and you will have sixty days from when we give or send you that notice to switch your account or close it. There will be no extra charges or interest payable, and notice requirements will be waived. 21.3. All our interest rates are variable which means the rate may change from time to time. Details of our current interest rates can be obtained from any of our branches or agencies, on our website or by calling our helpline. 21.4. Interest is paid net of tax. This means before we credit the interest to your account we are required to deduct tax. If you are a non-taxpayer you may be entitled to reclaim the tax. We will be happy to issue a tax deduction certificate if you make a request in writing. You may also request that we pay your interest gross, without deduction of tax, by completing the necessary Inland Revenue Form. Please speak to one of our Customer Advisers for further details. 21.5. If you deposit cash or cheques into your account on a bank working day and your account is in credit, we will pay interest from the day we receive it. However, if we receive your cash or cheque on a day that is not a bank working day, we will pay interest from the next bank working day. For example, if we receive your cash or cheque on a Saturday, we will pay interest from Monday, provided Monday is not a bank or public holiday. 21.6. A number of our accounts give you the option of interest being paid annually or monthly. If this applies to your account it will be detailed in the special conditions of your account. 21.7. We calculate your interest on a daily basis and credit it to your account at the end of the agreed interest period. This may be at year-end, at month-end, or some other agreed time. Refer to the special conditions of your account for further details. 21.8. When you make a withdrawal we stop paying interest on the amount withdrawn, on the day you make the withdrawal. 21.9. If your account is closed we will calculate the interest up to the day your account is closed. 21.10. If you would like a full explanation of how we work out interest please speak to one of our Customer Advisers. 22. Changes in Interest Rates 22.1. We can change the interest rate on your account at any time, subject to any special condition relating to interest rate changes that may apply to an account, if we reasonably believe it is necessary for any of the following reasons:- 22.2. If we change our interest rates we will advertise the changes within three days of the change at our branches and agencies, on our website, and in two local newspapers, usually Bath Chronicle and Western Daily Press. To help you compare rates easily we will show both the new and old rates. 22.3. If your account is a Direct Saver or Bonus Builder we will write within thirty days of the change, (to you or the first named joint account holder) to advise you of the change to your interest rate. 23. Statements 23.1. Unless your account has different special conditions, we will send a statement to the first named holder, once a year, if your account has a balance of more than £100. Members will also receive a Members Review (contains information about how the Society performed over the previous calendar year) and a summary of information about all our products, their current interest rates at each tier, the different interest rates that have applied throughout the year and the Bank of England rate throughout the year. 23.2. If your account is not passbook operated we will send you a full statement of your account at the frequency specified in the special conditions of your account. You should use this statement to manage your account and check the entries on it. We do not issue full account statements for passbook operated accounts. 24. Downgraded Accounts 24.1. Accounts become downgraded when the interest rate payable on them has fallen by 0.5% or more in comparison to the Bank of England Rate. The reference rate for this comparison is the best rate paid in comparison to the Bank of England Rate in the previous 12 months. 24.2. The Society has thirty days from a change in the Bank of England base rate to make a decision regarding the interest rates payable on its accounts. 24.3. If your account has a balance of £250 or more and it becomes downgraded we will: write to you within thirty days to tell you that your account has been downgraded; provide information about our other accounts; and help you switch to one of these, or close your account. If you switch your account within sixty days of our letter you will not be required to give any notice and will not incur extra charges or loss of interest. 25. Charges 25.1. We do not charge for the day to day running of your account. 25.2. There are some services where a fee is payable. Before we provide such services we will advise you of the charge so you can make an informed decision about whether to proceed. Our current tariff of charges is available at any of our branches or agencies, on our website and from our helpline. 25.3. We may change the amount of any charge, make new or different charges, or change the way you pay charges without notice, unless the charge is related to the day to day running of your account. In practice we always try to give at least thirty days written notice before we increase or introduce a new charge. 26. Terms and Conditions 26.1. A copy of these general terms and conditions and the special conditions of your account, will be provided to you before you open your account. You can obtain copies of both these leaflets at any of our branches or agencies, on our website or from our helpline. 26.2. If the Society changes these general terms and conditions to your disadvantage we give you thirty days written notice of the change. You will have sixty days from the date of the notice to switch your account or close it without having to pay any extra charges or lose interest. Any notice requirements relating to your account will also be waived. 26.3. Any other change of our terms and conditions will be advertised in notices at our branches and agencies and on our website. 26.4. If we make a major change or a lot of minor changes in one year we will give you either a copy of the new terms and conditions, or a summary of the changes. 27. Cooling Off 27.1. A fourteen day cooling off period applies to all our accounts. This means at any time between the day you make your first payment into the account, and the end of the fifteenth day you can decide not to open the account. If you do so we will help you to switch to another account or give you back your money, including any interest it has earned. You can notify us of your decision to cancel by visiting any of our branches or agencies, calling our helpline or by writing to our Head Office. We will ask for you to confirm your decision in writing. Notice periods, extra charges, and loss of interest will not apply in this situation. However, cheques must clear before withdrawals can be permitted. 28. Closing Your Account 28.1. You may close your account at any time by giving us notice and, unless the special conditions of your account require a minimum period of notice, no specific period of notice is required. Under the special conditions of several accounts if you do not give the minimum required notice this will incur a charge of a number of days interest. Refer to the special conditions of your account for further details. 28.2. If you close your account you must return your passbook, and pay us any sum owing on your account. 28.3. We can close your account if we give you thirty days written notice of our intention to do so, unless your account is for fixed term and that term has not expired. If we reasonably believe there are exceptional circumstances, such as fraud, we will close your account without notice. 28.4. If we close your account and it is not overdrawn, we will return your funds along with any interest we owe. We will take out of your account any withdrawal you make, and any interest or charges you owe. 28.5. If your account is for a fixed term we will close it on the day that the term ends unless that day is not a bank working day. If it is we will close your account on the next bank working day. 29. Dormant Accounts 29.1. An account becomes dormant if you have not withdrawn or deposited any funds in the last three years. We may ask you for personal identification when you reactivate a dormant account. 29.2. In some situations the Society Rules allow us to close a dormant account and retain the funds in the account for the Society if we have made reasonable attempts to locate you. 29.3. If we close your account because it is dormant we will open it again if you ask us to. When we re-open your account we will pay back the funds that were in your account when we closed it, together with interest, as though the account had never been closed. 30. Transferring Your Account 30.1. You can transfer your account to another person, subject to the special conditions of your account, our prior approval, any identification requirements, and the payment of any necessary fee. No transfer will be valid unless it is made in a form approved by us and until it is registered in our records. We may refuse to permit a transfer without giving any reason. 30.2. If you wish to transfer your account to another bank or building society we will close your account and give or send you a cheque for the balance. 31. Freezing Your Account 31.1. If we freeze your account this means we will not allow anyone to carry out any transaction until we are satisfied that it is reasonable for the freeze to be removed. 31.2. We may freeze your account if we think that it is being used for illegal purposes or if there is a disagreement about who is entitled to the funds in the account. This includes when we have been given notice that the relationship between joint account holders has broken down. 32. Death 32.1. If you die and your account is not a joint account, your personal representative will be entitled to use and close your account without loss of interest for early closure. 32.2. If you die and your account is a joint account, the remaining joint account holder(s) may close the account without loss of interest for early closure. 32.3. We shall require appropriate evidence reasonably acceptable to us of your death and the right of your personal representative to act in connection with your account. If such evidence is not in the form of a grant of probate of your will or letters of administration of your estate we may require an indemnity from your personal representative. 32.4. If on your death we allow a person appearing to us on reasonable evidence to be entitled to act as your personal representative to withdraw funds from your account we shall not be liable to your estate or to anyone else for any money withdrawn from your account. 33. Control of Your Financial Affairs 33.1. If you are unable to manage your financial affairs we will allow your account to be operated through a power of attorney once evidence of this arrangement and identification is provided and the account is set up to reflect this relationship. 34. Written Notices 34.1. We may send written notices, including statements and letters, to the last address you provided to us. We treat notices sent within the UK as arriving forty-eight hours after posting, and notices sent overseas as arriving ten days after posting even if the notice does not reach you. 34.2. If you live abroad we may require you to provide a UK address to which we can send notices. We may do this for legal or administrative reasons. 34.3. You should ensure that the arrangements for receiving mail at your address are safe. You must complete a change of address form and provide evidence of your new address if you change your address. If you do not write you may be required to pay any reasonable cost we incur trying to locate you. 34.4. Any notice or other communication given under the general terms and conditions or the special conditions of your account will only be valid if they are in writing, unless the general terms and conditions or the special conditions provide otherwise. 35. Advertising & Marketing 35.1. When you complete your application form you have the opportunity to choose not to receive marketing material from us about additional services and products we offer. In addition, each year within the summary of interest rates, we will remind you that you can ask us not to contact you for marketing purposes. If you do not wish to receive marketing material you can at any time advise any of our Customer Advisers who will immediately amend your details. 36. Confidentiality 36.1. We will treat all your personal information as private and confidential, even if you cease to be our customer. We will not reveal your name, address or details about your account to anyone unless one of the following exceptional cases occurs. 36.2. The Financial Ombudsman Service, our regulator or similar official body, representatives of any code of practice we comply with, or our auditors may review our files. If they do so they will not release the information to any other organisation. 37. Data Protection Act 37.1. Under the Data Protection Act you have the right to know what personal data is held about you by the Society and to ask for any inaccuracies to be corrected. For further details speak to one of our Customer Advisers. Please keep us informed of any changes to your name, address or phone number. 38. Complaints 38.1. We are committed to providing an efficient service, however occasionally there may be a misunderstanding or error made. We operate an internal complaints procedure, if you require further details or wish to make a complaint please speak to a Customer Adviser. Complaints that we cannot settle can usually be referred to the Financial Ombudsman Service. 39. Compensation 39.1. The Society is a member of the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Payments under the Scheme are limited to a maximum of 100% of the first £35,000 of an investor’s total shares and/or deposits (other than deferred shares – permanent interest bearing shares). Most investors are covered, including individuals and small firms. Although most shares and deposits in UK building societies are denominated in Sterling, the Euro and other European Economic Area currencies are also covered. Further details are available on request from the Society. 40. General 40.1. If by mistake we do not display a notice or information about your account in all our branches or agencies, the notice will still be valid and the information will still apply. 40.2. You must not charge, transfer, or give as security any part of your account or any of your rights under the general terms and conditions or the special conditions specific to your account, to anyone else without our agreement. 40.3. For administrative reasons we can change any address or telephone number in the general terms and conditions or in the special conditions specific to your account by giving you notice. We can also change the name of any service that we may let you use on your account without giving you notice. 40.4. You must give us an example of your signature if we request it. 40.5. If we choose not to, or are unable to, enforce any term which forms part of the general terms and conditions, or the special conditions that apply to your account this will not affect our rights to enforce the rest of those terms and conditions. 40.6. The general terms and conditions and the special conditions that apply to your account are part of the legal agreement between you and the Society for your account. English law governs this agreement and we will communicate with you in English. 41. Disclaimer 41.1. We will not be responsible for any loss or expense you suffer if, we cannot carry out any transaction on your account, or we cannot provide services or facilities, because of strikes, power cuts, equipment failure or causes beyond our reasonable control. Glossary Account – Your account is your share or deposit account, even if the name or number of the account changes. |
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Bath Building Society 2008. E&O.E (click here to view Legal Information and here for our Privacy Policy) |
